Sealed Air targets 'bleeders' in attack on margin weakness

Sealed Air Corp., a major plastics converter known for such brand names as Bubble Wrap and Cryovac, is taking a beating from rising polyolefin prices, poor pricing discipline on its own products, weak margins and bad debts.

The company has launched what it describes as an aggressive quality of earnings improvement program, which will include divestitures, improved purchasing practices, and pricing controls.

"We have taken some people and isolated them in the marketing function to make sure that they are in charge of pricing," said Jerome Peribere, president and CEO of Sealed Air. "We are the leader. We need to be leading in pricing discipline." He made the comments in a recent conference call with analysts....

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